USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.08% against the CHF and closed at 0.8945.
In economic releases, data showed that Swiss M3 money supply rose 7.6% (YoY) in May, following an 8.0% (YoY) increase in the preceding month.
In the Asian session, at GMT0300, the pair is trading at 0.8952, with the USD trading 0.08% higher from yesterday’s close.
The pair is expected to find support at 0.8937, and a fall through could take it to the next support level of 0.8923. The pair is expected to find its first resistance at 0.8968, and a rise through could take it to the next resistance level of 0.8985.
Later today, the Swiss Federal Customs Administration is scheduled to publish Switzerland’s trade balance data for the month of May.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
